Sei Investments Co. Buys 667,123 Shares of Lyft, Inc. (NASDAQ:LYFT)

Sei Investments Co. grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 780.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,621 shares of the ride-sharing company’s stock after acquiring an additional 667,123 shares during the quarter. Sei Investments Co. owned about 0.18% of Lyft worth $9,709,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Maple Rock Capital Partners Inc. boosted its holdings in Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after purchasing an additional 2,838,000 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Lyft by 7,536.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after acquiring an additional 1,830,533 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after acquiring an additional 1,735,208 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Lyft in the third quarter valued at about $13,430,000. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Performance

NASDAQ LYFT opened at $11.57 on Monday. The business’s 50 day moving average price is $12.94 and its 200-day moving average price is $13.83. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.64. The company has a market cap of $4.84 billion, a P/E ratio of 192.83, a P/E/G ratio of 1.90 and a beta of 2.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Sell-side analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on LYFT. Evercore ISI reduced their price target on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a report on Wednesday, February 12th. KeyCorp reiterated a “sector weight” rating on shares of Lyft in a research note on Wednesday, March 26th. Citigroup restated an “overweight” rating on shares of Lyft in a research note on Wednesday, February 12th. Finally, Bank of America lifted their target price on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Twenty-seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.03.

Insiders Place Their Bets

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock valued at $203,778 over the last 90 days. Insiders own 3.07% of the company’s stock.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.